City AM quotes Dominic Lawrance on the ‘unreliable’ data around non-dom departures from the UK
Recent HM Revenue & Customs payroll data has found no evidence to suggest more non-doms left Britain in response to the UK 2024 Budget than official predictions.
However, many advisors have questioned the accuracy of the data and are of the view that reliance on payroll data needs to be 'carefully questioned'.
Dominic Lawrance, Private Client Partner, comments for City AM on the validity of the data:
This data needs to be carefully questioned. The analysis appears to rely on payroll data, yet many of the wealthiest and most economically significant non-doms are not employees at all. The 2024/25 figures also will not capture the many who ceased UK residency from this tax year, so there’s a clear time lag.
"It may also be misleading to talk solely about non-doms ‘leaving’. The equally important, but less visible, effect is on those who might otherwise have come to the UK but are now deterred by the new regime. The real impact of the April 2025 changes will unfold over several years, not overnight.
Read the full piece in City AM here.
